Evercore ISI Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $44.00

Key Points

• Evercore ISI has lowered Vornado Realty Trust's price target from $45.00 to $44.00, while maintaining an "outperform" rating, indicating a potential upside of 16.36% from the previous close.
• The stock recently experienced a 2.0% increase in value, trading at $37.81, while analysts predict earnings per share of 2.31 for the current fiscal year.
• Institutional investors and hedge funds own 90.02% of Vornado Realty Trust's stock, demonstrating significant institutional interest in the real estate investment trust.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective reduced by investment analysts at Evercore ISI from $45.00 to $44.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's price objective indicates a potential upside of 19.22% from the stock's previous close.

Several other equities analysts have also commented on the company. Piper Sandler boosted their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Wall Street Zen raised Vornado Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Mizuho dropped their price objective on Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday, July 14th. Truist Financial lifted their price objective on Vornado Realty Trust from $37.00 to $38.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Finally, Scotiabank lifted their price objective on Vornado Realty Trust from $42.00 to $45.00 and gave the stock a "sector perform" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $37.80.

Vornado Realty Trust Stock Down 1.8%

Vornado Realty Trust stock traded down $0.69 during midday trading on Wednesday, hitting $36.91. 975,731 shares of the company were exchanged, compared to its average volume of 1,624,648. The company's fifty day moving average price is $38.90 and its 200-day moving average price is $38.48. The company has a market cap of $7.09 billion, a PE ratio of 9.14, a price-to-earnings-growth ratio of 13.35 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 6.82 and a quick ratio of 4.10. Vornado Realty Trust has a fifty-two week low of $29.68 and a fifty-two week high of $46.63.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $441.44 million for the quarter, compared to analyst estimates of $468.79 million. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%. Vornado Realty Trust's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. On average, research analysts predict that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Insider Buying and Selling at Vornado Realty Trust

In other news, EVP Haim Chera sold 20,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $37.98, for a total value of $759,600.00. Following the completion of the sale, the executive vice president directly owned 30,000 shares in the company, valued at approximately $1,139,400. The trade was a 40.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.42% of the company's stock.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in shares of Vornado Realty Trust by 75.3% in the 2nd quarter. Intech Investment Management LLC now owns 39,319 shares of the real estate investment trust's stock valued at $1,504,000 after acquiring an additional 16,895 shares during the last quarter. Creative Planning increased its holdings in shares of Vornado Realty Trust by 7.3% in the 2nd quarter. Creative Planning now owns 43,113 shares of the real estate investment trust's stock valued at $1,649,000 after acquiring an additional 2,934 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Vornado Realty Trust by 3.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 100,005 shares of the real estate investment trust's stock valued at $3,824,000 after acquiring an additional 3,216 shares during the last quarter. Candriam S.C.A. bought a new stake in shares of Vornado Realty Trust in the 2nd quarter valued at approximately $10,970,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Vornado Realty Trust by 6.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 66,863 shares of the real estate investment trust's stock valued at $2,557,000 after acquiring an additional 3,938 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors.

About Vornado Realty Trust

Vornado Realty Trust is a fully - integrated equity real estate investment trust.